2 days ago
GFO-X has debuted its Financial Conduct Authority (FCA)-regulated crypto derivatives platform, the U.K's archetypal specified trading venue for integer assets.
The caller level executed its archetypal commercialized connected Tuesday betwixt fiscal institutions Virtu Financial and IMC, and was cleared by DigitalAssetClear, GFO-X announced connected Tuesday.
DigitalAssetClear, created by London Stock Exchange Group (LSEG) subsidiary LCH, is simply a work for cash-settled bitcoin scale futures and options contracts.
GFO-X is besides supported by large banks ABN AMRO, Nomura and Standard Chartered, who are providing clearing for transactions connected the platform.
The U.K.'s FCA lifted its prohibition from 2020 connected crypto derivatives instruments for organization investors successful March 2024. This was followed by the London Stock Exchange saying it would judge exertion for cryptocurrency exchange-traded notes (ETNs).
The debut of GFO-X demonstrates the ongoing improvement of the regulated crypto trading ecosystem successful the U.K. The crypto derivative plays are besides gaining traction globally, arsenic Galaxy secured U.K. approval for a licence to grow its derivatives trading past period and Coinbase bought Deribit in a $2.9 cardinal woody earlier this month.
Read More: In $2.9B Deal, Coinbase Agrees to Buy Deribit to Expand successful U.S. Crypto Options Market
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